State Board of Administration of Florida Retirement System raised its stake in Raytheon Company (NYSE:RTN) by 0.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 447,437 shares of the aerospace company’s stock after purchasing an additional 1,502 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.15% of Raytheon worth $72,252,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. St. Johns Investment Management Company LLC bought a new stake in Raytheon in the second quarter valued at approximately $113,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Raytheon during the first quarter valued at approximately $111,000. Jacobi Capital Management LLC increased its stake in shares of Raytheon by 271.1% during the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the period. Tarbox Family Office Inc. increased its stake in shares of Raytheon by 1,666.7% during the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after buying an additional 750 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Raytheon during the second quarter valued at approximately $139,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Several research firms have recently issued reports on RTN. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price on the stock in a research note on Thursday, September 14th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a research note on Tuesday, August 15th. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reissued a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Finally, Argus reissued a “buy” rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $186.14.

Shares of Raytheon Company (RTN) opened at 184.69 on Friday. The company has a 50-day moving average price of $179.06 and a 200 day moving average price of $164.34. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $186.41. The stock has a market capitalization of $53.61 billion, a PE ratio of 25.51 and a beta of 0.58.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. During the same period last year, the business posted $2.38 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Equities analysts forecast that Raytheon Company will post $7.59 EPS for the current fiscal year.

In other Raytheon news, Director Robert E. Beauchamp bought 1,162 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the purchase, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $180.19, for a total value of $149,377.51. Following the transaction, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold a total of 5,120 shares of company stock worth $930,651 over the last quarter. Company insiders own 0.19% of the company’s stock.

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Raytheon Profile

Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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